Colt O&G, Elephant O&G To Divest Wolfberry Properties

Colt O&G, LLC and Elephant Oil & Gas, LLC have retained Energy Spectrum Advisors Inc. to sell certain operated properties located in the Cline and Wolfberry plays of Glasscock County, Texas.This nine-section block consists of 5,720 gross / 4,662 net contiguous acres (15% held by production) with an average 82% working interest (61% net revenue interest). The development plan includes 35 Horizontal Cline locations with additional opportunities in the Lower Wolfcamp, Strawn, and Atoka. The package includes 5 Wolfberry wells with a net production rate of 158 barrels of oil...